Standard Chartered Bank: MicroStrategy's BTC purchases next year should exceed those in 2024

Odaily report: Geoffrey Kendrick of Standard Chartered Bank predicts that the price of Bitcoin will double. The bank's digital asset research head said in a report earlier this month that he expects Bitcoin to reach $200,000 by the end of 2025. Standard Chartered Bank expects institutional investment in Bitcoin to continue at or exceed the pace of 2024 next year. The bank noted that since the beginning of this year, Bitcoin purchases by institutions have reached 683,000 bitcoins, mainly through the US spot Bitcoin ETF and MicroStrategy, a software company that is also an effective alternative to investing in Bitcoin. Geoffrey Kendrick said MicroStrategy's Bitcoin purchases should reach or exceed 2024 levels next year. He also added that with the incoming Trump administration expected to reform regulations on digital currency investments for so-called "traditional finance" (TradFi) companies, pension funds should also start including Bitcoin in their portfolios through the US spot Bitcoin ETF starting next year. Kendrick pointed out: "Even a small allocation of the $40 trillion in US retirement funds would significantly boost the price of Bitcoin. We would be more optimistic if Bitcoin is adopted more quickly by US retirement funds, global sovereign wealth funds (SWFs) or a potential US strategic reserve fund."